Determine the quarterly payment necessary to accumulate $65,000 in a fund paying 8% per year, compounded quarterly, for 10 years. Assume end-of-period deposits and compounding at the same intervals as deposits. Round the answer to the nearest cent.
?
A. $1,034.01 per quarter
B. $1,038.64 per quarter
C. $1,099.65 per quarter
D. $1,133.47 per quarter
E. $1,076.12 per quarter
Answer: E
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